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Three health clubs sold for £30m
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Active Luton
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London-based property group Propinvest, owned by Glenn Maud, has acquired three gyms from a private investor for a total of £30m.
The properties, which are located in Preston, Wrexham and Lincoln, are let to Total Fitness on leases with approximately 22 years left to run. The total rent is around £1.8m each year.
The Wrexham and Lincoln health clubs each have a gym, studios and three pools, while the Preston club has an additional 200 metre indoor running track and a boxing ring.
Investment agency BCM advised Propinvest and Colliers Capital advised the vendor.
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London-based property group Propinvest, owned by Glenn Maud, has acquired three gyms from a private investor for a total of £30m.
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